The NFL has yet to officially designate betting partners, but teams have partnered with companies that allow betting on their games. The Giants, for example, partnered with DraftKings in September 2020. And the Jets teamed up with BetMGM two years before that. Other NFL teams are expected to partner with companies in the coming months, but the league hasn’t announced a decision.
In-play betting in golf without official league data
The introduction of legal sports betting has given rise to new players in the in-play betting market. These companies are well-funded and experienced, and they have the ability to provide sophisticated in-play betting capabilities. One such company is Metric Gaming, which has leveraged PGA ShotLink technology to offer live golf betting. This industry is continuing to advance, and golf is a perfect match for in-play betting. Unlike many other sports, the game does not move so fast as to confuse many markets.
The PGA Tour envisions the emergence of shot-by-shot betting on professional golf tournaments. In an interview with Golf Channel, a PGA Tour executive explained how the use of tracking technology could create new golf in-game betting markets. Moreover, the PGA Tour has joined other professional leagues in lobbying to shape new sports betting laws. They argue that the use of official league data will ensure better quality of the product for bettors.
Legality of sports betting in Ohio
There have been multiple attempts to legalize sports betting in Ohio, but all of them failed. The state legislature passed multiple competing bills, but there was no compromise. Instead, State Senator Kirk Schuring decided to take the lead and introduce his own bill. In December of 2021, Governor DeWine signed it into law. This means that legal sports betting in Ohio will be legal by January 2023.
One of the major advantages of legal sports betting in Ohio is the availability of professional teams. All four major leagues have teams based in the state, and there is an army of dedicated fans. This means that legal sports betting in Ohio could provide a large amount of immediate revenue for the state government. Moreover, Ohio is home to one of the best teams in the NFL: the Cleveland Browns. Their new quarterback, Deshaun Watson, will likely draw a lot of betting action.
Sports betting in Ohio will be legalized on January 1, 2023. It will be available on the Internet for college football’s postseason, and for the entire NFL season. In-person betting is expected to launch in the state before legal online sports betting, but there are no updates on that timeline yet. It is important to remember that you must be 21 years old to be able to legally place bets in Ohio. In addition, you must be physically located in Ohio in order to place your bets.
Bookmakers’ stance on integrity in sports betting
Bookmakers’ stance on integrity in sports gambling has come under scrutiny in the wake of the NBA’s and Major League Baseball’s efforts to lobby governments for stricter sports betting laws. These leagues claim that legalizing sports betting will mean more obligations for them. Bookmakers are interpreting this as an effort to collect an “integrity fee” from bettors.
Some authors have analyzed the impact of integrity fees on betting prices. Smith (1971) discusses the effect on the value of betting prices. However, the public discussion on integrity fees has only briefly mentioned that sports books may change their odds to offset the integrity fee. Moreover, the authors do not mention whether sports books should also change their odds to compensate bettors who place bets on favorites and underdogs.
One of the biggest concerns in the sports betting industry is the potential for financial loss if sports leagues decide to impose stricter rules on sports gambling. This could result in chaos as every state would draft their own rules. This could be a double whammy for the industry, as bookmakers would be forced to compete in a flooded market.